Fintech Firm Takes 41 KSF at the Empire State Building
Empire State Realty Trust has signed a 40,679-square-foot lease at its 2.8 million-square-foot Empire State Building in Midtown Manhattan. Fintech company Pontera Solutions Inc. will relocate from its 10,539-square-foot space at 111 W. 33rd St., a 717,065-square-foot office high-rise in Chelsea, owned by the same landlord. JLL negotiated on behalf of the tenant, while Newmark represented Empire State Realty Trust.
The 102-story skyscraper was originally built in 1931 and features 64 passenger elevators, floorplates between 12,905 square feet and 100,512 square feet, a fitness center, controlled access and first-floor and mezzanine-level retail space.
The current ownership picked up the iconic Art Deco building in 2013, when ESRT purchased it as part of a $711 million portfolio deal with Helmsley Enterprises, according to CommercialEdge. With the closing of this new lease, Pontera will join the tower’s roster that includes LinkedIn, First American Equities, Security Mutual Life Insurance Co., Skanska and Turkish Airlines, according to the same source.
The latest cosmetic renovations at the Empire State Building date back to 2019, at a total cost of $650 million. The high-rise’s amenity package, measuring more than 65,000 square feet, now features multiple in-building dining options, a conference center and Empire Lounge, a soon-to-be-opened 400-person tenant lounge with basketball and pickleball courts and two golf simulators.
New tenants at the Empire State Building
JLL’s team of Managing Director Justin Haber and Executive Vice President Kyle Riker negotiated for the tenant. The ownership was represented in-house by ESRT’s Vice President of Leasing Shanae Ursini, with the assistance from Newmark’s Vice Chairman Scott Klau, Executive Managing Director Erik Harris and Managing Director Neil Rubin.
The lease follows a series of multiple recent commitments at the property. In January, a 109-year-old insurance company signed a full-floor deal. Last July, Capco signed a 26,620-square-foot agreement, relocating its New York City office to the building’s 68th floor. During that same period, ESRT landed two additional agreements totaling 40,000 square feet, with Skanska and Aprio.
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